11 April 2011
Genting SP
bought 2.14, added 2.12
1 Volumes - I saw series of accumulations and corresponding healthy corrections from low of this deep correction though not as perfect as COSCO.
2 Trend - intermediate correction down trend line drawn from 2.35 (09 Nov 2010) had been broken upwards, implying that down trend ended.
3 price had risen and exceeded all MAs (long-, intermediate- and short-term), implying that nobody loses money in general, which implies that there will not be much resistance if price continues rising.
4. MA60 and MA120 became flat from down. the rest are up.
however, it corrected 4 days so far and dropped to MA15 after buying. but note that volumes during dropping are contracting in general and it stops falling at MA15, which implies that this is just another healthy correction since the manipulator is unable to sell with such low volumes - this is common sense. expect it to rise again after this short term correction ends.
note correction formation from high of 2.35 is a falling wedge or an ABC correction pattern.
1 Volumes - I saw series of accumulations and corresponding healthy corrections from low of this deep correction though not as perfect as COSCO.
2 Trend - intermediate correction down trend line drawn from 2.35 (09 Nov 2010) had been broken upwards, implying that down trend ended.
3 price had risen and exceeded all MAs (long-, intermediate- and short-term), implying that nobody loses money in general, which implies that there will not be much resistance if price continues rising.
4. MA60 and MA120 became flat from down. the rest are up.
however, it corrected 4 days so far and dropped to MA15 after buying. but note that volumes during dropping are contracting in general and it stops falling at MA15, which implies that this is just another healthy correction since the manipulator is unable to sell with such low volumes - this is common sense. expect it to rise again after this short term correction ends.
note correction formation from high of 2.35 is a falling wedge or an ABC correction pattern.
Labels: Live Trading Records
